Swatch, Visa launch pay-by-wrist watch venture

Swiss watchmaker Swatch SA, Visa Inc and Visa Europe have launched a project that lets Visa cardholders in the United States, Switzerland and Brazil make payments with Swatch's new "pay-by-the-wrist" Swatch Bellamy watch.Set to launch in early 2016, Swatch Bellamy can be used around the world wherever contactless near-field communications (NFC) Visa payments are accepted, the partners said in a joint statement.An earlier report states that Swatch plans to add to its new smartwatch range. The Biel, Switzerland-based company is competing with Apple and other watchmakers in the budding smartwatch market.“Our product is called Touch Zero One and that gives enough room for Zero Five, Zero Nine,” Nick Hayek was quoted as saying by Switzerland’s Tages-Anzeiger newspaper. “The Touch Zero One is not the end of the progression.”Hayek told the paper Swatch would launch Touch Zero Two at next year’s Olympic Games in Rio de Janeiro.With inputs from Reuters